Bank Of Canada - BOC

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DEFINITION of 'Bank Of Canada - BOC'

The central bank of Canada, that came into existence after the passing of the Bank of Canada Act in 1935, influences the country's economy and money supply.

BREAKING DOWN 'Bank Of Canada - BOC'

The biggest tool at the BOC's disposal is the short-term lending rate (overnight rate) between banks. The Bank of Canada also manages government debt as well as issues new currency.

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